The Bitcoin - Gold road-map (the Golden standard as many call it) holds firm! Their parallel course continues but traders continue to turn their back on it. Why ignore the BTC-Gold comparison when it has been 100% accurate so far?
First it predicted the market bottom and the subsequent early buy signal based on it when the price was still at $3500.
Then once the Golden Cross took place it clearly signaled the start of the new bull market. BTC was trading at $5300 then, half the price we reached today. It was still early.
I hope that the pattern is clear to everyone. And yes it is still early!
Just notice the similarities and the obvious fractals (eclipse shapes):
* The rise from the bear cycle bottom to the Golden Cross was +61% on Gold and 58% on Bitcoin.
* The rise from the Golden Cross to the next High was +72% on Gold and +65% on Bitcoin.
* The rise from the fractal's Low to the next High was +89% on Gold and since it is obvious that Bitcoin's rises are marginally weaker I calculate that BTC's next High will be at +81%.
This places a target on the price at $12700. It is obvious that not only this bullish leg is far from over but also the potential of the current bull market. Still on its early stages, still not late to join the party. Buying every pull back (the deeper, the better) is still my strategy.
Keep also in mind that as it appears, getting greedy on break outs is/was not a bad thing after all!
But as usually I am more interested in have you have to say. Do you think that Bitcoin is just following Gold's pattern by luck? Do people who ignore it make a big mistake? Let me know in the comments section!
Excellent analysis as always Tradingshot :)
Confirms 100% my view also. Pump to around 13k (Upper monthly bband resistance is also in this area!), then dump to 8k, and then pump to 20-30k.
The gold fractal really is absolutely fascinating. Here is my analysis as comparison, but basically the same as yours:
Keep up the excellent work and best regards.
TradingShot
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@FlaviusTodorius67, Thanks Flav and I return the compliment! I also eye a pull back to around 8k after roughlt 13k is confirmed in order to buy more. A pleasure exchanging ideas with you!
SebastianofMoon
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@TradingShot, Thanks, the pleasure is on my side too :)
Vision2077
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@FlaviusTodorius67, @TradingShot Brilliant both of you. It takes repetition to change cognitive bias and you are making a beautyfull case of super-implicit order fractals resonnance. The corrolary could mean that BTC is following the same energetic fractal deployment as Gold, 30x faster, and may become the de facto Golden Standard of the high frequency 4th industrial revolution, repalcing the central banking order of the first industrial revolution (Bank of England 1694).
Now beyond history musing, will the Alt market pump be the retrace from 13K in early jully, or the retrace from 20K in early september ?
This question to help time the entry point of XRP or ETH for example (that @MagicPoopCannon or @WBM_Team have recently reviewed)
SebastianofMoon
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@Vision2077, Thanks ! Yes, you described it very well. The underlying mass psychology is the same, thus we see the same patterns. But the speed is much much higher in bitcoin, because it will become the digital gold standard, and in the digital age, everything moves of course much faster than it used to with the old classical assets.
This is highly interesting, what you said with the 4th industrial revolution. Yes, this makes sense. Every age had its gold standard, and the digital age of course consequently needs a digital gold standard.
As for when exactly the altcoin market will start pumping in earnest, is always a gamble.
I assume that most will start when btc goes over 20k, because this will basically be the unmistakeble confirmation that we'll see new all time highs, and everyone knows that bitcoin doesn't just overshoot the old ATH by 10-20% but by factors!
So everyone will want to jump on board. But since it could also be earlier or later, I am strongly advising everyone to already load up on alts.
I did already, and will continue to do so at every btc dip. The time for insane altcoin pumps will certainly come again, and it would be nice to be in alts when that happens, hehe.
pacman7331
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Nice work. But explain why we should compare to gold? Both store of value, but this is a different timespan. Trillions vs billions... I don’t see why it should follow gold. Good find and interesting though.
TradingShot
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@pacman7331, Thank you pacman. Good question, which I have answered already on the two previous BTC/ Gold comparisons. And I quote: "the different time frames ( BTC on 1D/ Gold on 1W). This shouldn't affect the conclusions derived as Bitcoin's life span is far shorter than Gold which has been used as a store of value for centuries. Moreover Bitcoin has been moving at a much faster pace since its invention, so the market psychology, dynamics etc have adapted to a much shorter time frame. "
Confirms 100% my view also. Pump to around 13k (Upper monthly bband resistance is also in this area!), then dump to 8k, and then pump to 20-30k.
The gold fractal really is absolutely fascinating. Here is my analysis as comparison, but basically the same as yours:
Keep up the excellent work and best regards.